Not much change this week, but watch out for next week. Yesterday, Tuesday the 17th, the 10-year Treasury rate fell by 22 basis points. We’re no longer in territory where the HECM Principal Limit is maxed out. This week, only Treasury-based HECM’s with a margin of +268 or less can pay the HECM maximum Principal [...]

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Boasting that his will be “the first lender in the country with private insurance on proprietary reverse mortgage products,” Tom Walker, president/CEO of Members Trust Co., Tampa, a Credit Union Service Organization (CUSO), says "We are very close to getting private insurance” for the loans. Founded as a state chartered trust company, by Suncoast Schools [...]

Reverse Mortgage Guides just released a new reverse mortgage calculator that allows lenders to quickly embed a calculator onto their website.  The calculator is part of its Reverse Mortgage Toolkit and is currently free. “We’re planning to cover our costs by offering a premium version in the future that will be a lot more powerful [...]

The February 2009 issue of the Reverse Review is now available online.  This month it features an interview with former Assistant Secretary for Housing-Federal Housing Commissioner, Brian D. Montgomery.  He shares his personal accomplishments, and experiences while in office as well as his advice for the new administration.  Additionally, it features contributions from the law [...]

I received a handful of emails over the weekend asking for the actual text of The American Recovery and Reinvestment Act of 2009.  It sounds like there was rumors floating around that the reverse mortgage provision was removed but according to the text posted on the White House website it’s still included.  See below: